CyberX, the leading provider of cybersecurity solutions for the Industrial IoT, recently announced the completion of a $9 million funding round. The round was led by Flint Capital, including existing investors Glilot Capital Partners, Swarth Group, GlenRock, newly joined ff Venture Capital (ffVC) and additional angel investors. CyberX was founded by Omer Schneider and Nir Giller, both veterans of the Israeli Elite Cyber Security Unit.
CyberX has experienced rapid growth since its founding, with dozens of major deployments and a worldwide customer base in North America, EMEA and APAC. The company’s technology is currently being successfully used in dozens of industrial and production environments worldwide. This rapid growth is attributed to the company’s ability to deliver its unprecedented Industrial Finite State Machine (IFSM) technology, while preserving and providing immediate cyber and operational value to its customers.
“Along with our long list of satisfied customers, this round further validates our innovative solution and execution to date,” said Omer Schneider, CEO & Co-Founder of CyberX. “We are excited to have Flint Capital onboard and look forward to working together as we continue expanding our operations worldwide and in particular in North America.”
With the rise of the Industrial Internet revolution, increased Machine-to-Machine connectivity and the appearance of new IIoT business models, the security challenges are growing rapidly, making the deployment of cyber security solutions a much higher priority among C-level decision makers at the world’s largest manufacturers.
The Hi-Tech team in Glusman & Co., headed by Adv. Noam Gavish, represented CyberX Israel Ltd., in the financing round.
In this transaction Glusman & Co. represented the Company, and was responsible for negotiating the terms of the transaction on behalf of the Company, as well as accompanying, advising and assisting the Company from the first stages of negotiation of the deal, through the due diligence process and until the fulfilment of its post-closing obligations.